Emirati Stocks Close Busy Earnings Week Downbeat; Dana Gas Sheds

06:48 AM EST, 11/06/2026 (MT Newswires) -- Stock trading in the United Arab Emirates ended Friday in the red as geopolitical risks, energy supply disruptions, and mixed domestic corporate earnings continue to weigh on investor sentiment. At the close of trading, the FTSE ADX General Index lost 1.336%, while the DFM General Index declined 0.283%. As the corporate earnings season draws to a close, Dana Gas (ADX:DANA) reported higher third-quarter attributable profit and net revenue driven by increased output and gas sales volume. It ended the session 1.07% lower. RAK Ceramics' (ADX:RAKCEC) shares closed flat as it delivered growth in attributable profit and revenue in the same quarter. Meanwhile, Emirates Investment Bank's (DFM:EIBANK) profit for the three months ended Sept. 30 plunged due to lower interest and investment income. The Dubai-listed lender's shares surged 7.26% at closing. In other news, Abu Dhabi National Oil Co., or Adnoc, inked a deal to supply India's Gujarat Energy with up to 4 million tonnes of liquefied natural gas for 10 years, starting in 2028. On the geopolitical front, the US is reportedly reviewing a nuclear proposal sent by Iran through Qatari mediators, Reuters reported, citing a senior Iranian official, adding that discussion around the proposal will only take place if the US satisfies all seven conditions put forward by Iran. Brent crude oil futures were trading below the $100 per barrel mark as of 3:17 pm UAE time, following the Democratic sweep of the US Congress in the midterm elections and shifting market expectations for a swift resolution to the Iran war. "After the morning tweet by Vice-President JD Vance, in which he placed blame on the Republican election losses on the US-Iran war, traders gained greater assurance that the kinetic war might not resume, and that explains also the very sharp decline in crude oil prices that followed Brent Crude fell by roughly -8% following Vance's communication," Macquarie said in a note.